tom: ellen zentner, think you so much.ppreciate this and your follow-up after the jobs report at 8:30 as well. i look at the dynamics right now in the economics space and how it will fold into the market, and after the humbling 30 days ago, you wonder where we will be at 9:30 when we open. taylor: a really great chart showing that the markets love those big misses because it means there's more uncertainty about how the fed will and when they will react, so the markets certainly enjoying perhaps the big surprise that some of the economists -- the big surprise, but some of the economists, may be not so much. romaine: i think a lot of people have forgotten about it for the time being. they will probably re-embrace it, i'm sure. but when you look at apple, microsoft, all of them really, you're talking about all-time highs for a lot of these companies all the way back to january and early february, they really haven't been close to them ever since. a lot of people have been focused on maybe some of the more momentum stocks, for

taylor: ellen zentner said it great. the hours worked per week coming down. michael gapen of barclays seeing the opposite. it really highlights the discrepancy would continue to see. you do want input. you tweak it slightly, you get a broad range of outcomes on this report. tom: i do want to mention christine lagarde and jerome powell at a summit with the bank of international settlements. very important summit trying to link climate change into the future of central banks. as we speak, the leader of russia speaking at the st. petersburg international i comic forum. many -- international comic forum. many at bloombergtechtv -- international economic forum. many at bloomberg have attended this before. mr. putin speaking on things european this morning. we are going to digress to a data check right now. euro weaker, but much more on where we are in the equity markets. tom: -- romaine: s&p futures up about 0.1 percent. nasdaq futures up as well. really not doing much of anywhere. this is pretty much where we have been camped out around the 4200 level for the pas

the pace should stabilize and moderate as reopening affects fades and once supply catches up ellen zentnerts and oer firms up as well much more than expected, pointing to a firmer source of foundation data for the inflation data as transitory factors bawl out and the fed better be right about bottlenecks. that may be the most important point of all the risk, if the fed is wrong would mean a sharp turn around in what is now very easy policy and expectations that any meaningful tightening is far off. david, have you made your peace with inflation >> no. i'm not sure that i have, steve. and, you know. >> no? >> for now, of course, we can see this reflected in the ten-year yield, perhaps the market has, and powell has the upper hand, but this is still going to be the key question as we head deeper into this year, steve. >> i think it is so you're not david chill when it comes to inflation. i get it and i don't know that the market has this right, but i'm astonished looking at the ten-year note. i have been astonished for a long time looking at the two-year, which is probably the better look, t